Metro Bank, now in its third year as the new bank on Britain’s High Streets, almost trebled the number of current accounts it runs last year from 48,000 to 136,000.

The amount held by savers rose 279% to £576 million while loans increased fourfold to £168 million. Dissatisfaction with established banks saw the number of current accounts rise by another 25% in the last three months.

European woe puts brake on BMW sales

Europe’s doldrums mean fewer drivers are splashing out on BMWs. The German carmaker’s pre-tax profits fell 3% to €1.3 billion (£847 million) in the first quarter.

Sales at the firm, which also owns Mini and Rolls-Royce cars, lost 4.1% to €17.5 billion. “We don’t expect a great deal of impetus from most European markets over the next few months,” BMW said.

German industry’s shrinking feeling

Germany’s manufacturers finally succumbed to the malaise gripping the rest of the eurozone as its industrial sector shrank for the first time this year in April, according to financial data firm Markit.

Eurozone manufacturers overall saw their deepest decline for four months with France, Italy, Greece and Spain the worst performers. Manufacturers also cut jobs for the 15th successive month.